fbpx
:::: MENU ::::

Posts tagged with: debt reduction

6 Benefits to Look for When Accepting a Position at a New Company

by

Landing a position at a new company can be exciting. Not only is it often a time for you to begin earning more money, but it can also provide exciting opportunities in your existing career path. The next time you’re approached for a potential position, there are a few things to look for that will offer you peace of mind and a sense of security.

1. Insurance

You’ll always want to find a position that not only offers security but also insurance. With the rising costs of health and medical insurance, be sure to inquire about insurance options, especially if you’re interested in accepting a full-time job. You should also take a bit of time to compare various insurance providers to find the best offerings for you before accepting a position.

2. Retirement and Social Security Plans

In the 1930’s, Social Security was a social insurance program that was introduced and initiated by the federal government to protect its workers long-term while ensuring economic safety well into their retirement years. When you’re determined to guarantee the best outcome for your future, you’ll want to do so by verifying that you will also be contributing to your retirement and social security plans. Working with a financial advisor is always best when you want to ensure you are helping your money go as far as possible.

3. Vacation and PTO

While you’re interviewing for a full-time or salaried position, inquire about vacation time and PTO, or Paid Time Off. This will help you compare various positions and offerings. Choosing a job with the most vacation time, PTO, and flexible policies will bring you the most satisfaction over time.

4. Workplace Perks and Benefits

A properly installed and maintained dental bridge has the ability to last up to 15 years in total with proper oral hygiene and at-home care, according to Weekend Dentistry. You will want to find a workplace that offers insurance, dental, and eye care when you intend to work for a company for years, if not decades, to come. Inquire about exams and coverage types from each employer before you opt to accept a position or offering at a new company.

5. A Path to Succeed

If you want to succeed in your new position or company, you will want to ensure there is a path to succeed based on the vision you have for your career. If you’re taking on a new position or job that only provides lateral moves and opportunities, the role may not be for you. This is why it’s essential to carve out a vision you have for yourself as a professional before you finalize any decision you’re presented with professionally.

6. Family Planning Benefits and Assistance

Some companies offer maternity and paternity leave for new parents. Others offer surrogacy assistance to those interested in becoming a surrogate mother. To become a surrogate mother, you must be between the ages of 21 and 45 to qualify, according to Elevate Baby. If you’re thinking of having a baby or if you’re interested in working as a surrogate mother, you’ll need to speak candidly with any prospective employer ahead of time.

Whenever you’re thinking of accepting a position at a new company, there are a few benefits you should always look for that will help you long-term, fiscally, and even career-wise. The more familiar you are with your options, competitive salaries, and even insurance options on the market, the easier it’ll be for you to maintain the upper hand once it’s time for you to begin working for a new company or accepting a brand-new position altogether. Whether your goal is to make more money, increase your time and flexibility, or you simply want to be creative in your position, you can do so once you know what to look for, once it’s time to begin submitting applications and completing interviews.

Making the Plan Now

by

I anticipate getting my first “big” paycheck towards the end of this week. Therefore, I am glad I asked about the credit card idea, mentioned my idea of prepaying my mortgage and so on. It will definitely be better for me to have a solid plan ahead of time versus deciding how to use it when it’s burning a hole in my hand.

These are the decisions I have made thus far for March:

  • I am going to pay $1,515 to my mortgage. This is the remainder owed for March and then pay April’s payment in advance. This will put me on track to be one month ahead on my mortgage going forward. (And yes, I have confirmed that I can do this.)
  • I must pay $1,756 to my insurance. I didn’t pay last month due to no income, but let them know and there is no penalty for being late as I made this arrangement with them. (Our insurance renews at the end of March and it has gone from $5,203 to $7,342 every six months. This is a huge jump. I’m planning to call to see if here is anything that can be done.)
  • I will pay the minimum on all my credit card debt.
  • I will put some money into some needed car maintenance. I’ve got an estimate for all the things that should be done. But haven’t decided what is a MUST. Total on that coming soon after I get some good advice.
  • I will review and set aside anticipated taxes, etc.

Personal Debts

I have spoken with the two people who each loaned me $2,500 last fall. I will begin repaying them in April at $500 per month. They are both fine with that.

For the one that I hoped to pay off with a website project…To be clear, that is one of my brothers and he actually approached me a couple years ago about a complex web project. I did the research and gave him a quote for what he wants to do. It is a money making project for him. That quote was well above the loan amount. He mentioned the web project again when I asked about the loan. Fast forward to my call this week to let him know about my pay back plan; he does want to move forward with the web project, but he’s still not sure when. As a result, I am going to proceed with the payment plan and we will revisit his project when ready.

My dad understands that paying him back is not as high on the priority list with all my other debt, so for right now, I do not anticipate making any payments toward that loan.

I do not take these people or their generosity of loaning me the money for granted. I fully recognize how blessed I am to have had that resource. Not everyone does.

Credit Card Debt

I hear the BAD Community loud and clear on the idea of paying down the credit card debt across the board.

The results: Do not do it. Focus on one credit card at a time. And I believe the consensus was pay the highest interest debt first.

Most of my credit cards have approximately the same interest rate. So I’m floundering a bit between two cards to focus on. Let me share my thoughts and you help me decide:

  1. Sam’s Credit Card – Currently over the limit and requires approx. $50 payment each month. It does have the lowest balance (around $1,100) though and I believe I could pay it off in its entirety in April based on my forecast spreadsheet.
  2. Wander Credit Card – Requires approx. $75 payment each month and has the 3rd highest balance (around $1,700). This would take at least April and May to pay in full if I choose to focus on it.

The good thing about paying off the Wander card is that I am not tempted to use it at all. Same with the one I paid off this month. I’ve already disposed of the cards, do not have them connected to Apple Pay, etc. Literally very easy to forget they exist and close them out.

The Sam’s card has not been used in almost a year, and it’s been over the limit most of that time. It would be easy to pay off and feel really good. But I fear I would be tempted to use it as I still shop at Sam’s Club pretty regularly for things I buy in bulk (food and paper products) and gas savings.

In writing this, I think I need to pay enough to the Sam’s card to get it under the limit. But then focus on paying off the Wander card. Do you agree?